This invention relates to fishing lures, and more particularly, to soft bodied fishing lures that float, and to molds for and methods of making floating fishing lures. Floating soft bodied fishing lures have been made by adding to plastic formulations chemicals that produce gas bubbles in the cured plastic. The resulting lures were tough and not natural feeling, and the colors were opaque and difficult to control. Also, air has been incorporated by agitating melted plastic before a lure body is formed, but the size, location and distribution of air bubbles in the lure can not be controlled. Selected areas of prior lures could not be made devoid of bubbles.